Bitcoin mining.

[Bitcoin]

Bitcoin Mining Hardware Comparison Tool|2:58

[Bitcoin]

If you've heard about Bitcoin then you've probably heard about Bitcoin mining as well - the concept of "creating" Bitcoins from your computer. The following post will give you a complete overview of what Bitcoin mining is and how it actually works.
Don't like to read? Watch our video guide instead.
What is Bitcoin mining Summary.
Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as the blockchain. Mining is done by running extremely powerful computers called ASICs that race against other miners in an attempt to guess a specific number.
The first miner to guess the number gets to update the ledger of transactions and also receives a reward of newly minted Bitcoins (currently the reward is 6.25 Bitcoins).
Today, in order to be profitable with Bitcoin mining you need to invest heavily in equipment, cooling, and storage. It's not possible to mine Bitcoin profitably with a PC or a GPU at home . You can calculate your profitability using a Bitcoin mining calculator.
Here's what you'll need to do to get started with Bitcoin mining:
Calculate mining profitability Get a Bitcoin miner Get a Bitcoin wallet Find a mining pool Download a mining program Start Mining!
That's Bitcoin mining in a nutshell. If you want a more detailed explanation about mining keep reading this post. Here's what I'll cover:
1. What is Bitcoin mining?
Bitcoin is a decentralized alternative to the banking system. This means that the system can operate and transfer funds from one account to the other without any central authority.
With a trusted central authority, transferring money is easy. Just tell the bank you want to remove $50 from your account and add it to someone else's account. In this example, the bank has all the power because the bank is the only one that is allowed to update the ledger that holds the balances of everyone in the system.
Bitcoin, on the other hand, creates a system that has a decentralized ledger. It gives independent miners the ability to update the ledger without giving them too much power.
Anyone who wants to participate in updating the ledger of Bitcoin transactions, known as the blockchain, can do so. All you need is to guess a random number that solves an equation generated by the system.
Sounds simple, right?
Of course, this guessing is all done by your computer. The more powerful your computer is, the more guesses you can make in a second , increasing your chances of winning this game. If you manage to guess right, you earn bitcoins and get to write the "next page" of Bitcoin transactions on the blockchain.
The solution to the equation is very hard to achieve but very easy to validate. You can think of a Rubik's cube as a good example for this (very hard to solve, but easy to see you've solved it).
Rubik's cube - hard to solve, easy to prove you've solved it.
The Mining Process in a Nutshell.
Once your mining computer comes up with the right guess, your computer determines which pending transactions will be inserted in the next block of transactions on the blockchain.
Compiling this block represents your moment of glory, as you've now become a temporary banker of Bitcoin who gets to update the Bitcoin transaction ledger.
The block of transactions you've created, along with your solution, is sent to the whole network so other computers can validate it.
Each computer that validates your solution updates its copy of the Bitcoin transaction ledger with the transactions that you chose to include in the block.
The system generates a fixed amount of Bitcoins (currently 6.25 ) and rewards them to you as compensation for the time and energy you spent solving the math problem.
Additionally, you get paid any transaction fees that were attached to the transactions you inserted into the next block.
All the transactions in the block you've just entered are now confirmed by the Bitcoin network and are virtually irreversible.
Here's a two-minute video showing the process of blocks and confirmations.
So that's Bitcoin mining in a nutshell.
It's called mining because of the fact that this process helps "mine" new Bitcoins from the system. But if you think about it, the mining part is just a by-product of the transaction confirmation process. So the name is a bit misleading, since the main goal of mining is to maintain the ledger in a decentralized manner.
Since mining is based on a form of guessing, each time a different miner will guess the number and be granted the right to update the blockchain. Of course, the miners with more computing power will succeed more often, but due to the law of statistical probability, it's highly unlikely that the same miner will succeed every time.
2. Mining difficulty.
Now that you know what Bitcoin mining is, you might be thinking, "Cool! Free money! Where do I sign up?" Well, not so fast...
Satoshi Nakamoto, Bitcoin's inventor, crafted the rules for mining in a way that the more mining power the network has, the harder it is to guess the answer to the mining math problem. So the difficulty of the mining process is actually self-adjusting to the accumulated mining power the network possesses.
If more miners join, it will get harder to solve the problem; if many of them drop off, it will get easier. This is known as mining difficulty.
Mining difficulty adjusts every 2016 blocks.
Difficulty is self-adjusting in order to create a steady flow of new Bitcoins into the system. In a sense, this was done to keep inflation in check. Mining difficulty is set so that, on average, a new block will be added every ten minutes (i.e., the number will be guessed every ten minutes on average).
Now, remember, this is on average . We can have two blocks being added minute after minute and then wait an hour for the next block. In the long run, this will even out to ten minutes on average.
The difficulty adjustment is done every 2016 blocks (every 2 weeks on average) retroactively. Meaning, every 2016 blocks the system looks back on the past 2016 blocks and calculates the average block time. If it's under 10 minutes it will increase the difficulty, if it's over 10 minutes it will lower it.
3. Bitcoin mining Hardware.
When Bitcoin first started out, there weren't a lot of miners out there. In fact, Satoshi, the inventor of Bitcoin, and his friend Hal Finney were a couple of the only people mining Bitcoin back at the time with their own personal computers.
Using your CPU (central processing unit--your computer's brain) was enough for mining Bitcoin back in 2009, since mining difficulty was very low. As Bitcoin started to catch on, people looked for more powerful mining solutions.
A GPU (graphics processing unit) is a special component added to computers to carry out more complex calculations. GPUs were originally intended to allow gamers to run computer games with intense graphics requirements.
Because of their architecture, GPUs became popular in the field of cryptography, and around 2011, people also started using them to mine Bitcoins. For reference, the mining power of one GPU equals that of around 30 CPUs.
GPUs were used for mining Bitcoin in the past.

[Bitcoin]

Bitcoin Mining on Ubuntu 18.10 - Bitcoin Mining Software 2019|24:00

[Bitcoin]

FPGA mining.
FPGA is a piece of hardware that can be connected to a computer in order to run a set of calculations. They are just like GPUs but 3-100 times faster. The downside is that they're harder to configure, which is why they weren't as commonly used in mining as GPUs.
FPGAs are more efficient than GPUs for mining purposes.
Around 2013, a new breed of miner was introduced: the ASIC miner. ASIC stands for Application Specific Integrated Circuit.
ASICs are pieces of hardware manufactured solely for the purpose of mining Bitcoin. Unlike GPUs, CPUs, and FPGAs, they couldn't be used to do anything else. Their function was hardcoded into the machine.
Today, ASIC miners are the current mining standard. Some early ASIC miners even appeared in the form of a USB, but they became obsolete rather quickly. Even though they started out in 2013, the technology quickly evolved, and new, more powerful miners were coming out every six months.
An ASIC USB mining rig with a fan on top.
After about three years of this crazy technological race, we finally reached a technological barrier, and things started to cool down a bit. Since 2016, the pace at which new miners are released has slowed considerably.
A Bitcoin ASIC miner used for mining Bitcoin.
4. Bitcoin mining Pools.
Mining is an extremely competitive game. Even if you buy the best possible miner out there, you're still at a huge disadvantage compared to professional Bitcoin mining farms. That's why mining pools came into existence.
The idea is simple - miners group together to form a "pool" so they can combine their mining power and compete more effectively. Once the pool manages to win the competition, the reward is spread out between the pool members depending on how much mining power each of them contributed.
This way, even small miners can join the mining game and have a chance of earning Bitcoin (though they get only a part of the reward).
The market share of the most popular Bitcoin mining pools in 2020.
Today there are over a dozen large pools that compete for the chance to mine Bitcoin and update the ledger. According to certain reports, 65% of all Bitcoin mining worldwide is done in China due to cheap electricity, manufacturing costs and weather conditions.
5. Is Bitcoin mining Profitable?
The short answer is "probably not"; the correct answer is "it depends on a lot of factors."
When calculating Bitcoin mining profitability, there are a lot of things you need to take into account. Let's break them down.
Hashrate (how powerful is your miner)
A Hash is the mathematical problem the miner's computer needs to solve. The hashrate refers to your miner's performance (i.e., how many guesses your computer can make per second).
Hashrate can be measured in MH/s (mega hash = 1m hashes per second), GH/s (giga hash = 1b per hashes second), TH/s (terra hash = 1t hashes per second), and even PH/s (peta hash = 1000t hashes per second).
Bitcoin Reward.
The number of Bitcoins generated when a miner finds a solution (in other words "solves a block"). This number started at 50 bitcoins back in 2009, and it's halved every 210,000 blocks (about four years). The current number of Bitcoins awarded per block is 6.25.
The last block-halving occurred in May 2020, and the next one will be on 2024. Once the halving occurs the reward will decrease to 3.125 Bitcoin.
A number that represents how hard it is to mine bitcoins at any given moment considering the amount of mining power currently active in the system.
Also known as "how many dollars are you paying per kilowatt to get electricity?"
You'll need to find out your electricity rate in order to calculate profitability. This can usually be found on your monthly electricity bill. The reason this is important is that miners consume electricity, whether for powering up the miner or for cooling it down (these machines can get really hot and noisy).
Each miner consumes a different amount of energy. You'll need to find out the exact power consumption of your miner before calculating profitability. This can be found easily with a quick search online. Power consumption is measured in watts.
If you're mining through a mining pool, then the pool will take a certain percentage of your earnings for rendering their service. Generally, this would be somewhere around 2%.
Bitcoin's price.
Since no one knows what Bitcoin's price will be in the future, it's hard to predict whether Bitcoin mining will be profitable. If you are planning to convert your mined bitcoins to any other currency in the future, this variable will have a significant impact on profitability.
Difficulty increase per year.
This is probably the most important and elusive variable of them all. The idea is that since no one can actually predict the rate of miners joining the network, neither can anyone predict how difficult it will be to mine in six weeks, six months, or six years from now.
In fact, in all the time Bitcoin has existed, its profitability has dropped only a handful of times--even at times when the price was relatively low.
The last two factors (price and difficulty increase) are the reason no one will ever be able to give a 100% accurate answer to the question "is Bitcoin mining profitable?"
Once you have all of these variables at hand you can insert them into a Bitcoin mining calculator (as can be seen below) and get an estimate of how many Bitcoins you will earn each month. If you can't get a positive result on the calculator, it probably means you don't have the right conditions for mining to be profitable.
Bitcoin Data Mining.
Bitcoin mining refers to the process of authenticating and adding transactional records to the public ledger. The public ledge is known as the blockchain because it comprises a chain of the block.

[Bitcoin]

How To Build/Run a Bitcoin Node on Linux|14:29

[Bitcoin]

Before we understand the Bitcoin mining concept, we should understand what Bitcoin is. Bitcoin is virtual money having some value, and its value is not static, it varies according to time. There is no Bitcoin regulatory body that regulates the Bitcoin transactions.
Let's understand the bitcoin concept with an example. The company manager takes a dummy thing and announces that who will get this thing will be the happiest employer of the organization and get an international holiday ticket. So everyone trying to buy that dummy thing that has no value and in this way, this dummy thing will have some value may be lies between 10$ to 20$ or anything. We can relate these things with the Bitcoin if the number of purchasers of Bitcoin increases, then the value of Bitcoin also increases to a saturated value afterward it stops.
Bitcoin was created under the pseudonym(False name) Satoshi Nakamoto , who announced the invention, and later it was implemented as open-source code. An only end-to-end version of electronic money would enable online payments to be sent directly from one person to another without the interference of an economic body.Bitcoin is a network practice that empowers people to transfer assets rights on account units called Bitcoin's , made in limited quantity. When an individual sends a couple of bitcoins to another individual, this data is communicated to the peer-to-peer bitcoin network.
This technology remains similar to purchasing something with virtual currency. However, one advantage of Bitcoins is that the arrangement remains unidentified. The personal identity of the sender and the beneficiary (receiver) remain encrypted. It is the primary reason that's why it has become a trusted form of money transaction on the web. By convention, the complexity in making distributed money is the requirement for a proposal to avoid double-spending. One individual may simultaneously transmit two transactions, sending similar coins to two distinct parties on the network. Bitcoin settles this difficulty and ensures agreement of rights by keeping up a community ledger of all transactions, called the blockchain. New transactions are grouped mutually and are checked against the existing record to make sure all new communications are valid. Bitcoin's accuracy is ensured by individuals who give computation authority to its system known as miners to validate and affix transactions to a public ledger.
Bitcoins don't exist physically and are only an arrangement of virtual data. It can be exchanged for genuine money, and are broadly acceptable in most countries around the globe. There is no central authority for Bitcoins, similar to a central bank(RBI in India) that controls the monetary policy. Alternatively, developers solve complex puzzles to support Bitcoin transactions. This process is called Bitcoin mining .

[Bitcoin]

How To Mine Bitcoin On PC, Mac, Or Linux|21:41

[Bitcoin]

How to Mine Bitcoins:
It is quite a complex process, but if you want to take it directly, then here is the process of how it works. You need to get a CPU(Central Processing Unit) with excellent processing power and a speedy web interface. In the next step, there are numerous online networks that list out the latest Bitcoin transactions taking place in real-time. Afterward, Sign in with a Bitcoin customer and attempt to approve those transactions by assessing blocks of data, called hash . Now, communication goes through several systems, called nodes , which are simply blocks of data, and since the data is encoded, a miner is needed to check if his answers are accurate.
It is quite a complex process, but if you want to take it directly, then here is the process of how it works. You need to get a CPU(Central Processing Unit) with excellent processing power and a speedy web interface. In the next step, there are numerous online networks that list out the latest Bitcoin transactions taking place in real-time. Afterward, Sign in with a Bitcoin customer and attempt to approve those transactions by assessing blocks of data, called hash. Now, communication goes through several systems, called nodes, which are simply blocks of data, and since the data is encoded, a miner is needed to check if his answers are accurate.
How the Bitcoin mining Works:
Bitcoin mining requires a task that is exceptionally tricky to perform, but simple to verify. It uses cryptography, with a hash function called double SHA-256( a one-way function that converts a text of any dimension into a string of 256 bits). A hash accepts a portion of data as input and reduces it down into a smaller hash value (256 bits). With a cryptographic hash, there is no other option to get a hash value we want without attempting a ton of sources. Once we find an input that gives the value we want, it is a simple task for anybody to validate the hash. So, cryptographic hashing turns into a decent method to apply the Bitcoin "Proof-of-work" (data that is complex to produce but easy for others to verify).
If we consider a block to mine first, we need to collect the new transactions into a block, and then we hash the block to form a 256-bit block hash value. When the hash initiates with sufficient zeros, the block has been successfully mined and is directed to the Bitcoin network, and that has turned into the identifier for the block. In many cases, the hash is not successful, so we need to alter the block to some extent and try again and again.
Bitcoin Transaction:
A Bitcoin transaction is a section of data that is transmitted to the network and, if valid, it ends up in a block in the blockchain. The concept of a Bitcoin transaction is to transfer the responsibility of an amount of Bitcoin address.
When we send Bitcoin, an individual data structure, namely a Bitcoin transaction, is made by your wallet customer and afterward communicate to rebroadcast the transaction. If the operation is valid, nodes will incorporate it in the block they are mining, within 10-20 minutes, the transaction will be included, along with other transactions, in a block in the blockchain. Finally, the receiver can see the transaction amount in their wallet.
Some facts about transactions:
The Bitcoin amount that we send is always sent to a particular address. The Bitcoin amount we get is locked to the receiving address, which is associated with our wallet. Every time we spend Bitcoin, the amount we spend will consistently come from funds received earlier and currently present in our wallet. Addresses receive Bitcoin, but they don?t send Bitcoin, it is sent from a wallet.
Bitcoin Wallets:
Bitcoin wallets compile the private keys through which we access a bitcoin address and payout our funds. They appear in different forms, designed for specific types of devices. We can even use hardcopy to store data to avoid having them on the computer. It is important to secure and back up our Bitcoin wallet. Bitcoins are the latest technology of cash, and very soon, other merchants start accepting them as payment.
We know how a bitcoin transaction mechanism works and how they are created, but how they are stored? We store money in a physical wallet, and bitcoin works similarly, except it is generally digital. In brief, we don't need to stock bitcoins anywhere. What we store are the secured digital keys used to access our public bitcoin address and sign transactions.

[Bitcoin]

How to GPU mine NVIDIA on linux - ubuntu 16.04 - step by step|9:45

[Bitcoin]

There are mainly five types of wallet that are given below:
Desktop Wallets:
First, we need to install the original bitcoin customer (Bitcoin Core). If we have already installed, then we are running a wallet, but may not know it. In addition to depend on transactions on the network, this software also empowers us to create a bitcoin address for transfer and getting the virtual currency. MultiBit(Bitcoin wallet) runs on Mac OSX, Windows, and Linux. Hive is an OS X- based wallet with some particular features, including an application store that associates directly to bitcoin services.
Mobile Wallets:
An application on our cell phone, the wallet can store up the security key for our bitcoin addresses, and enable us to pay for things straightforwardly with our phone. Many times, a bitcoin wallet will even take advantage of a cell phone?s near-field communication(NFC) aspect, empowering us to tap the mobile phone against a reader and pay bitcoins without entering any data at all. A bitcoin customer has to download the whole bitcoin blockchain, which is always developing and is multiple gigabytes in size. A ton of mobile phones wouldn't be able to hold the blockchain in their memory. In such a case, they can use alternative options, and these mobile users are repeatedly designed with simplified payment verification (SPV) in mind. They download a confined subset of the blockchain and depend on other trusted nodes in the bitcoin system to ensure that they have the precise data. Mycelium is the example of mobile wallets that comprises of the Android-based Bitcoin wallet.
Online Wallets:
Electronic wallets stores our security keys on the web, on a computer, limited by someone else and coupled to the Internet. Various online services are accessible, and the network to mobile and desktop wallets copying our address among various devices that we own. One significant advantage of online wallets is that we can access them from anywhere, in spite of which device we are using.
Hardware Wallets:
Hardware wallets are incomplete numbers. These are sharp devices that can hold private keys electronically and make easy payments. The compact Ledger USB bitcoin Wallet utilizes smartcard protection and is accessible at a reasonable cost.
Paper Wallets:
The cheapest alternative for keeping our bitcoins safe and sound is significantly called a paper wallet. There are various sites offering paper bitcoin wallet services. They deliver a bitcoin address for us and generate an image containing two QR codes. The first one is the public address that we can use to receive bitcoins, and the other is the private key that we use to pay out bitcoins stored at the address. The primary advantage of a paper wallet is that the private keys are not stored digitally anyplace, so it secures our wallet from cyber attacks.

[Bitcoin]

Cara mining crypto mengunakan Linux Ubuntu - Ethereum - Ethereum Classic Mining|5:18

[Bitcoin]

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Bitcoin mining News and Tutorials Mining.
Having an online wallet can make a purchase much faster than before. An online wallet can be used to pay.
A Mobile Wallet is a virtual wallet that stores payment card information on a mobile device. Mobile wallets are a.
KeepKey Wallet is a hardware wallet for storing cryptocurrencies. It is a multi-purpose wallet that uses advanced technology to prevent.
Hardware wallet.
A hardware wallet is a physical electronic device designed solely to secure Bitcoin. The main innovation is that the hardware.
System payments and withdrawals.
Latest users withdrawals.
User Date Amount Link.
Latest users payments.
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The public chain will have a halving cycle to maintain the value of the currency, and the market will rise sharply after halving in history.
The computing power of the entire network is due to the increase and decrease of mining machines, which affects the average distribution of revenue. If the computing power decreases, the average revenue will increase, and if the computing power increases, the average revenue decreases.

[Bitcoin]

Learn how to mine Cryptocurrency, including Monero, using Linux.|21:20

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Last Price $ 594.44 million Change +3.45% power 259.13 TH/s Daily output 0.00005750 ETH / M Halve time.
Last Price $ 2.71 million Change +7.81% power 399.48 PH/s Daily output 0.00000589 DCR / G Halve time.
Last Price $ 55.02 million Change +4.33% power 192.64 TH/s Daily output 0.00003776 LTC / M Halve time.
Last Price $ 50.95 million Change +6.05% power 1.71 EH/s Daily output 0.00058986 BCH / T Halve time.
Last Price $ 6.02 million Change +5.28% power 6.79 GH/s Daily output 0.00040308 ZEC / K Halve time.
Last Price $ 8.59 million Change +6.01% power 6.00 PH/s Daily output 0.00014389 DASH / G Halve time.
Last Price $ 1.56 million Change +3.48% power 0.52 GH/s Daily output 4.66800000 GRD / M Halve time.
Last Price $ 5.19 million Change +1.19% power 1.01 EiB Daily output 0.17731733 FIL / TiB Halve time.

[Bitcoin]

CPU mining on Linux(Ubuntu) operating system using MinerGate|13:46